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Given the volatility in EVs, investors probably should play both sides of the trade, with some of the exposure to the upstarts, including Telsa and Rivian, and a foothold in the legacy players, "not necessarily because they are going to win the space, but they do have the building blocks that can allow them to win," Colas said. Now it has competition for the marginal investor." EV stocks are less bubble-like than options-like
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"Tesla has been the only 'real' EV play in U.S. "We've done enough IPOs over the years to know some investors cycle through new companies as they go public, selling the 'old' name and replacing it with the 'new,'" Colas wrote in a recent note to clients. And if they own Tesla already, the investors need to make a decision to keep all their Tesla or sell some and buy some Rivian, "just on the off chance that maybe it's not a Tesla but a half-trillion company, and in that case, it's a five-bagger from here," Colas said. and around the world has to take Rivian seriously. With a $100 billion market cap, every institutional investor in the U.S. "They saw what happened with Tesla and know what can happen in this space," he said. "In EVs, it could be eight years," he said.Īnd Rivian, at a $100 billion valuation, is a company no institutional investor can afford to ignore. He says the whole ecosystem of EVs is exactly the way the auto industry was a century ago, which started out very fragmented and then took 80 years to come down to the Big Three. Risk-tolerant investors could do well to pick up a few shares now or wait to see what next week's event brings.Colas, though, isn't ready to call a bubble in EVs. It's still a high-risk, high-reward growth stock with a ton of potential and a lot of unknowns. 27, Lucid will host a production preview week at its Arizona facility that should give investors insight into its manufacturing process, updates regarding the Lucid Air rollout, and maybe even 2022 forecasts.ĭespite all the limelight, the investment thesis behind Lucid hasn't changed one bit. If Lucid's car sells itself, the company will be able to save on advertising and focus on what it does best.īeginning on Monday, Sept. Given all the press Lucid is receiving, investors should keep a lookout for reservation updates to gauge customer interest in the car. That being said, Lucid's electric car really is incredible. The importance of reaching mass production cannot be understated. Time is of the essence, given that Lucid will likely continue burning cash for a few more years. Lowering expectations and barely meeting or missing deadlines weighs on investor patience. There's a growing chance Lucid will have to adjust next year's forecast the longer it takes for it to reach mass production. What's more, a late start pushes back Lucid's 2022 goal to produce and deliver 20,000 Lucid Airs.
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While Lucid technically hasn't missed its goal of mass production and delivery of the Lucid Air Dream edition before the end of 2021, the likelihood that the rollout will take place in the third quarter is virtually nil. The company has gained more recognition for its technology and performance, while at the same time losing some credibility for failing to provide clarity on the Lucid Air rollout. It may be a contrarian opinion, but there's an argument that all of the recent news pales in comparison to the importance of Lucid's production timetable. 17 up over 8%, giving the stock a three-day gain of 21%. The share price has been extremely volatile since Lucid merged with a special purpose acquisition company (SPAC) called Churchill Capital IV on July 26 - going as high as $29.03 and as low as $16.12 per share since the merger. Share prices of Lucid Group proceeded to close Sept. The million-dollar question Lucid investors are asking Not bad! The 1,111 hp Dream Edition P? 471 miles.
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520 miles is also the longest range ever for an EV. The 933 hp Dream Edition R has an EPA certified range of 520 miles! That's fairly nuts, and three miles better than the 517 I witnessed. Reacting to the news, Lieberman posted a picture of a Lucid Air on Instagram and captioned the following: Rawlinson was able to get 517 miles of range out of his Lucid Air Dream Edition Range, which is arguably more impressive than the EPA's theoretical 520-mile estimate because it's a real-world example. The EPA stamp of approval is nice, but the news was rather unsurprising given a recent test by Lucid CEO Peter Rawlinson and Motor Trend editor Jonny Lieberman.